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Metalite Provides an Update on Its Recent Acquisition of Next Generation Resources and Exploration Strategy

Mergers & Acquisitions Exploration Programs

Metalite Provides an Update on Its Recent Acquisition of

Next Generation Resources and Exploration Strategy

Toronto, ON, May 2, 2023 – Metalite Resources Inc. (CSE:METL) (OTC PINK:JNCCF)

(Frankfurt:5VHA) (" Metalite" or the " Company") is pleased to announce its new exploration strategy

after completion of its recent acquis ition of Next Generation Resources (“NextGen”). The NextGen

acquisition provides Metalite with immediate access to an extensive portfolio of properties covering 3,233

square kilom etres which are prospective for lithium, and other rare earth elements (REEs) in Liberia,

West Africa. In addition, Metalite has acquired NextGen’s team of professionals with over 15 years’

experience in Liberia and access to a fully functional base of o perations in Monrovia including

geological, logistical, financial and administrative teams to support the Company’s exploration programs.

The geological t eam has the capacity and capability to complete cost-effective evaluation s and acquire

additional licenses with demonstrated potential.

Mr. Dave Melling, Metalite ’s CEO commented “The acquisition of NextGen is an important step in

building shareholder value. In one transaction the Company has acquired 7 reconnaissance licences

prospective for battery metals, as well as the personnel and infrastructure to complete the exploration

work. The global demand for lithium is steadily increasing and pushing the price of lithium carbonate to

new highs. Lithium consumption is expected to rise exponentially over the coming decade, largely driven

by consumer demand for electric vehicles, and the growing shift towards renewable sources of energy.”

Dave Melling and Efdal Olcer Metalite’s VP Exploration have ju st completed 3-weeks of reconnaissance

field work coverin g all 7 of the Company’s mineral licences in Liberia. The primary goal of this work

was to develop an exploration plan and budget for the remainder of 2023. The envisaged exploration

program will include up to 15,000 soils samples and 1,000 stream sedime nt samples in concert with

geologic mapping, prospecting, and rock sampling. A key element of the program will be mapping all

artisanal mining sites with emp hasis placed on Coltan, a niobium-tantalum mineral commonly associated

with LCT Pegmatites and go ld. The sampling programs will be initiated in June and should be

completed by December 2023. The results of this work will define targets for follow up wo rk which will

include trenching and drilling programs in 2023.

The information in this news rele ase was compiled and reviewed by David Melling, P.Geo who acts as

Metalite’s Qualified Person, under National Instrument 43 -101 rules for mineral deposit disclosure . Mr.

Melling is a Professional Geoscientist (P.Geo) and a registered member of the Enginee r and Geoscientists

of British Columbia (no. 18999) a Recognized Professional Organization. Mr. Melling is Metalite’s CEO

and h as sufficient experience relevant to the crystallization of lithium -cesium-tantalum (LCT) type

pegmatite deposits under evaluation.

About Metalite Resources Inc.

Metalite Resources Inc. is a Canadian junior mineral expl oration issuer uniquely positioned to generate

incremental shareholder value through its vast battery metals focused license portfolio in Liberia, West

Africa and an extensive precious metals focused project portfolio in NSW, Australia. The Company has 6

Australian projects cover ing over 600 sq km ’s in NSW and include s 67 historical mines and prospects

focused on Gold and Silver, along with various indic ator minerals that occur along with these precious

metals.With the recent acquisition of Next Generation Resources with over 3,200 sq. km of land position

in Liberia, the Company has amassed a set of 7 highly prospective licenses that show evidence of high -

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potential mi neralization containing various lucrative metals , i ncluding Lithium, REEs, Cobalt, Nickel,

Copper, Zinc, Aluminium and Gold.

For further information please contact:

Ryan Bilodeau

(416) 910-1440

[email protected]

To learn more, please visit https://www.metaliteresources.com/ .

Forward-Looking Statements

This news release contains certain "forward -looking statements." All statements, other than statements of

historic fact, that address activiti es, events or developments that Metalite believes, expects or anticipates

will or may occur in the future are forw ard-looking statements. Forward -looking statements are often,

but not always, identified by the use of words such as "seek," "anticipate," "be lieve," "plan," "estimate,

“expect," and "intend" and statements that an event or result "may," "will," "can," "sh ould," "could," or

"might" occur or be achieved and other similar expressions. These forward -looking statements reflect the

current expectations or beliefs of Metalite based on information currently available to Metalite. Forward-

looking statements are subject to a number of risks and uncertainties that may cause the actual results of

Metalite to differ materially from those discussed in the for ward-looking statements, and even if such

actual results are realized or substantially realized, there can be no a ssurance that they will have the

expected consequences to, or effects on Metalite. Factors that could cause actual results or events to

differ materially from current expectations include, among other things, failure to successfully complete

financings, ca pital and other costs varying significantly from estimates, production rates varying from

estimates, changes in world mineral commodity market s, changes in equity markets, uncertainties

relating to the availability and costs of financing needed in the futu re, equipment failure, unexpected

geological conditions, imprecision in resource estimates, success of future development initiatives,

competition, operating performance of facilities, environmental and safety risks, delays in obtaining or

failure to obtain tenure to properties and/or necessary permits and approvals, and other development and

operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except

as may be required by applicable securities laws, Metalite di sclaims any intent or obligation to update

any forward -looking statement, whether as a result of new information, future events or results or

otherwise. Although Metalite believes that the assumptions inherent in the forward-looking statements are

reasonable, forward-looking statements are not guarantees of future performance and accordingly undue

reliance should not be put on such statements due to the inherent uncertainty therein.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility

for the adequacy or accuracy of this release